Tether Urges Jack Mallers’ Twenty One Into Strike, Miner Deal

Tether has proposed that Twenty One Capital merge with Strike, a crypto trading and spending platform, and Elektron Energy, a Bitcoin mining firm, at a time when Twenty One Capital’s main business of investing in Bitcoin has fallen out of favor.

Twenty One launched in December via a special purpose acquisition company, backed by the stablecoin giant Tether, the Japanese investment firm SoftBank Group Corp. and the investment bank Cantor Fitzgerald LP. It held more than 40,000 Bitcoin — the third-largest corporate holding at the time.